As per recent news, from today onwards, crypto lender BlockFi will support LINK deposits on its platform. Chainlink investors can now expect a 5.5% APY on their deposits. The interest accrued on the deposits will be paid out in the form of LINK tokens. This event may trigger a positive sentiment among crypto investors and lead to a higher demand for LINK tokens. Past Performance of LINK The LINK price was quite volatile in the past week. On February 23, 2021, LINK started trading at $31.52. As of March 2, 2021, LINK closed at $27.61. Thus, the LINK price has declined in the past week. In the last 24 hours, LINK was trading between $24.75-$29.74. https://ift.tt/3e2ceG7 Technicals for the Day-Ahead and Tomorrow Currently, LINK is trading at $28.9. Thus, the LINK price has increased from the opening price of $27.40. The RSI indicator is at 67%. In the past one hour, the RSI has been in the ‘overbought’ territory. It has just started falling. It is a good time for intraday traders to go short. Thus, buying activity is high. The price is likely to go up further. Both the MACD and signal lines are positive. However, there has been a bearish crossover by the MACD line over the signal line. Thus, we can expect some price pullbacks amidst an overall bullish trend. The OBV indicator is also upward sloping. Thus, buying volumes are higher than selling volumes. Hence, the LINK price will keep rising. It is a good Currently, the LINK price is above the first Fibonacci pivot resistance level of $28.96. In some time, it is likely to break out of the subsequent Fibonacci pivot resistance levels of $30.14 and $32.05 respectively. The price has tested the 23.6% FIB retracement level of $28.56 and broken out of it. Thus, the upward trajectory of the LINK price is likely to continue today as well as tomorrow.
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